DOCSLIB.ORG

Casablanca Finance City

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Casablanca Finance City © Z/Yen Group Global Financial Centres 2020 2020 Focus On Casablanca 4 June 2020 Financial Centre Futures @ZyenLF With Thanks To Our Sponsors © Z/Yen Group 2020 Focus On Casablanca © Z/Yen Group 2020 Mr Saïd Ibrahimi Mrs Manal Bernoussi CEO Director of Strategy, Casablanca Finance City Partnerships & Communications Professor Michael Mainelli Casablanca Finance City Executive Chairman Z/Yen Group Casablanca Finance City Your business catalyst in Africa Africa’s potential $ 2.35 trillion $ 29 trillion Africa’s collective GDP in 2018 x12 Africa’s collective GDP Roughly equal to Brazil in 2050 Source: World Bank, 2018 Source: The Fastest Billion, Charles Robertson Among the world’s top ten 24 Countries in Africa will fastest growing economies, grow at a CAGR* of 5% 6 are in Africa or above by 2030 Source: World Economic Forum, 2019 Source: E&Y, Africa 2030: Realizing the possibilities $ 130-170 billion / year in financing $ 5.6 trillion in business for energy, water, ICT and opportunities in Africa transport by 2025 by 2025 Source: AFDB, 2018 Source: Mc Kinsey 600 million unique mobile Internet is expected to generate subscribers in Africa 10% of Africa's GDP by 2025 Source: GSMA, 2020 Source: McKinsey Global Institute, Lions on the move II * Average annual growth rate Still a complex & fragmented continent​ Tunisia Morocco 54 countries Algeria Libya Egypt Mauritania Mali Niger Sudan Eritrea Senegal Chad Diverse legal & regulatory Gambia Guinea Bissau Burkina frameworks Guinea Faso Benin Sierra Nigeria South Somalia Ivory Leone Ghana Sudan Ethiopia Coast CAR Liberia Togo Cameroon Guinea Democratic Equatorial Republic Congo of the Congo Uganda Kenya Gabon Small-sized economies and Rwanda Burundi markets Tanzania Angola Malawi Zambia Complicated environment with Zimbabwe Mozambique Namibia Botswana several challenges Madagascar (political, doing business…) South Africa Obvious need for entry points / financial centers to access Africa’s untapped potential and mitigate complexity & risks Morocco, a privileged entry point to Africa Political stability Privileged geographical Africa focused location Morocco, the ideal investment platform for Africa Solid economic Connectivity fundamentals Infrastructure Casablanca Finance City Africa’s leading business and financial center, which builds on Morocco’s strategic assets to offer a privileged framework that helps catalyse your business in Africa CFC’s value proposition 1 2 3 Doing Business Community Africa Insights 4 Doing Business: streamlined processes Fast-track administrative process An accelerated administrative procedure for company setup formalities within 48 hours Simplified procedures for « business » visas, foreign employment contracts, and residency permits Facilitating people flow and exchange control Facilities for hiring foreign employees No exchange control on foreign currencies Unrestricted transfer of management and technical assistance fees within the group Casablanca International Mediation & Arbitration Center (CIMAC) Accelerated procedure Independent body Experienced and world renowned members Operating in 4 languages: English, Arabic, Spanish and French 4 CFC Community Financial institutions ● Investment banking / corporate banking ● Asset management / private equity ● Private banking ● Insurance / reinsurance ● Investment services providers Professional services ● Specialised financial services (financial rating, research, market data provision...) ● Strategic, legal, financial and fiscal consulting services, audit, actuaries, HR services ● Financial offshoring Holdings Investment vehicles into African projects Regional headquarters of multinationals Centres de décision financiers et non financiers assurant une activité de supervision et de coordination des activités exercées par le groupe dans un ou plusieurs pays étrangers. 4 To be eligible, you must justify a regional vocation ~ 200 companies with CFC status BANKING & INSURANCE ASSET MANAGEMENT & PRIVATE EQUITY CONSULTING & LAW FIRMS OTHER MULTINATIONAL CORPORATIONS List not complete CFC Community: strong presence in Africa CFC companies are operating from Casablanca in 48 African countries 4 Africa insights Through its ‘Africa Insights’ segment, CFC identifies the need for information and shares insights that benefit its community and helps them comprehend the diversity of Africa. African country African data through Key contacts from African investment factsheets sectorial reports promotion agencies, opportunities to meet face-to-face 4 Tax incentives Corporate Tax Personal Income tax Net taxable profits from local and foreign sources: All CFC employees have the choice between: First 5 years : 0% After 5 years : 15% Option 1 : 20% Flat rate on personal income tax for employees during the first 10 years after arrival & Option 2 : Standard taxation from the 1st year Exemption from withholding tax on dividends distributed to residents and + non-residents Exemption from registration fees on: Company set-up Capital increase CFC’s network of international partners Luxembourg London Frankfurt Astana Paris Montreal Beijing Barcelo Busan Toronto na Abu Dhabi Casablanca Shanghai Niger Senegal Mali Burkina Guinea Faso Nigeria Ivory Coast Ghana Cameroon Togo Congo Rwanda Singapore Gabon Tanzania Zambia Madagascar Mauritius 13 Partnerships with international finance centers 19 South-South partnerships CFC’s ambition as a green financial center for Africa Building up a green finance International Partnerships Capacity building & Awareness 1 ecosystem 2 3 • Seminars & conferences • Setup a dedicated green • International networks for • Technical workshops finance value proposition sustainability • Working groups • Attract major players from the green & sustainable finance industry (funds, consulting firms, rating agencies…) • Massify green investment flows to Africa’s untapped opportunities 17 Some green finance initiatives Sustainable Finance Roadmap International Cooperation In partnership with major Moroccan financial Afric 1 Platform for exchanging expertise & best sector’s stakeholders 2 practices within African financial centers a Seminars & Working Groups 3 -Green incentives, Assessment Program Green Bonds Issuance -Regional launch of UNEP FI Positive Impact 4 355 M Dhs to finance the environmentally Principles friendly real estate program Capacity Building Events & 5 Promotion & Awareness Conferences 6 In Morocco & internationally 18 Casablanca Finance City in numbers 1ST Financial center in Africa (GFCI, 2020) ~200 48 CFC labelled companies African countries covered by CFC companies 1ST 13 19 Green financial center in Africa Partnerships with international South-South partnerships and the Middle East (GGFI, 2020) financial centers 4 +212 529 05 62 34 Tel : +212 5 20 30 03 80/81 www.casablancafinancecity.com [email protected] Tour CFC, Lot 57, Quartier Casa- Allée des abricotiers, Quartier Hippodrome Anfa, Hay Hassani Casablanca – MoroccoCasablanca, Maroc – 20000 Twitter : @CasaFinanceCity Linkdin : Casablanca Finance City Casablanca – An External View © Z/Yen Group 2020 African Centres In The GFCI ♦Consistent improvement in ratings ♦Well-connected with major centres, including Dubai, London, New York Casablanca – An External View © Z/Yen Group 2020 African Centres In The GGFI Green Finance Depth Green Finance Quality ♦Clear leader on green finance in Africa ♦Recognised strength and commitment Casablanca Strengths © Z/Yen Group 2020 ♦Leading financial centre in Africa ♦Leadership through collaboration, e.g., active membership of the WAIFC and FC4S ♦Commitment to and leadership on green finance – high performance on energy sustainability and CO2 emissions and has a sustainable element in its stock exchange ♦Performing well internationally on country risk and inflation ♦Scores high for business process outsourcing – a trusted place to do business Casablanca For The Future © Z/Yen Group 2020 ♦Potential to become the recognised gateway to Africa for international investment ♦Building collaboration, partnership and trade finance ♦Recognised centre for mediation and arbitration in Africa ♦Continued emphasis on green finance and green investment ♦Growing market for Islamic finance and Fintech Questions, Comments, And © Z/Yen Group Answers 2020 Get Involved © Z/Yen Group 2020 Global Financial Centres Index www.globalfinancialcentres.net Global Green Finance Index www.greenfinanceindex.net Smart Centres Index www.smartcentresindex.net Thank You © Z/Yen Group 2020 Global Financial Centres Index 28 September 2020 Take the GFCI survey at: www.globalfinancialcentres.net/survey/ @ZyenLF.
Load more

Recommended publications
  • PDF-Download
    Michaël Tanchum FOKUS | 8/2020 Morocco‘s Africa-to-Europe Commercial Corridor: Gatekeeper of an emerging trans-regional strategic architecture Morocco’s West-Africa-to-Western-Europe framework of this emerging trans-regional emerging West-Africa-to-Western-Europe commercial transportation corridor is commercial architecture for years to come. commercial corridor. The November 15, redefining the geopolitical parameters of 2018 inauguration of the first segment of the global scramble for Africa and, with Morocco’s Construction of an Africa-to- the landmark high-speed line was presi- it, the strategic architecture of the Medi- Europe Corridor ded over by King Mohammed VI himself, in terranean basin. By massively expanding conjunction with French President Emma- the port capacity on its Mediterranean Situated in the northwest corner of Africa, nuel Macron.2 Seven years in construction, coast, Morocco has surpassed Spain and is fronting the Atlantic Ocean on its western the $2.3 billion line was built as a joint poised to become the dominant maritime coast and the Mediterranean Sea on its venture between France’s national railway hub in the western Mediterranean. Having northern coast, the Kingdom of Morocco company Société Nationale des Chemins constructed Africa’s first high-speed rail line, historically has been a geographical pivot de Fer Français (SNCF) and its Moroccan Morocco’s extension of the line to the Mau- for interchange between Europe, Africa, state counterpart Office National des Che- ritanian border, will transform Morocco into and the Middle East. In recent years, the mins de Fer (ONCF). Outfitted with Avelia the preeminent connectivity node in the semi-constitutional monarchy has adroitly Euroduplex high-speed trains produced nexus of commercial routes that connect combined the soft power resources of by French manufacturer Alstom, the initial West Africa to Europe and the Middle East.
    [Show full text]
  • Expat Guide to Casablanca
    EXPAT GUIDE TO CASABLANCA SEPTEMBER 2020 SUMMARY INTRODUCTION TO THE KINGDOM OF MOROCCO 7 ENTRY, STAY AND RESIDENCE IN MOROCCO 13 LIVING IN CASABLANCA 19 CASABLANCA NEIGHBOURHOODS 20 RENTING YOUR PLACE 24 GENERAL SERVICES 25 PUBLIC TRANSPORTATION 26 STUDYING IN CASABLANCA 28 EXPAT COMMUNITIES 30 GROCERIES AND FOOD SUPPLIES 31 SHOPPING IN CASABLANCA 32 LEISURE AND WELL-BEING 34 AMUSEMENT PARKS 36 SPORT IN CASABLANCA 37 BEAUTY SALONS AND SPA 38 NIGHT LIFE, RESTAURANTS AND CAFÉS 39 ART, CINEMAS AND THATERS 40 MEDICAL TREATMENT 45 GENERAL MEDICAL NEEDS 46 MEDICAL EMERGENCY 46 PHARMACIES 46 DRIVING IN CASABLANCA 48 DRIVING LICENSE 48 CAR YOU BROUGHT FROM ABROAD 50 DRIVING LAW HIGHLIGHTS 51 CASABLANCA FINANCE CITY 53 WORKING IN CASABLANCA 59 LOCAL BANK ACCOUNTS 65 MOVING TO/WITHIN CASABLANCA 69 TRAVEL WITHIN MOROCCO 75 6 7 INTRODUCTION TO THE KINGDOM OF MOROCCO INTRODUCTION TO THE KINGDOM OF MOROCCO TO INTRODUCTION 8 9 THE KINGDOM MOROCCO Morocco is one of the oldest states in the world, dating back to the 8th RELIGION AND LANGUAGE century; The Arabs called Morocco Al-Maghreb because of its location in the Islam is the religion of the State with more than far west of the Arab world, in Africa; Al-Maghreb Al-Akssa means the Farthest 99% being Muslims. There are also Christian and west. Jewish minorities who are well integrated. Under The word “Morocco” derives from the Berber “Amerruk/Amurakuc” which is its constitution, Morocco guarantees freedom of the original name of “Marrakech”. Amerruk or Amurakuc means the land of relegion. God or sacred land in Berber.
    [Show full text]
  • Casablanca Finance City
    CASABLANCA FINANCE CITY Your Gateway to Africa’s Potential CFC Presentation 1 2 Presentation 3 AFRICA IS ARISING AS THE WORLD’S FASTEST GROWING CONTINENT WITH TREMENDOUS OPPORTUNITIES 24 African countries will grow at a CAGR of at least 5% by 2030 Casablanca Tunisia 3 out of 4 newborns in 2100 Morocco 70% of African households will have a purchasing power will be African Algeria Libya Egypt higher than $50001 in 2025 Mauritania Mali Niger Senegal Chad Eritrea Gambia Djibouti Sudan Guinea Bissau Burkina Guinea Sierra Central Somalia Ghana Nigeria Ethiopia Leone Ivory African Liberia Coast Republic Cameroon Benin Uganda Equatorial DRC Kenya TogoGuinea Gabon Rwanda Congo Booming working age Burundi Tanzania population Increasing urbanisation: Malawi Mozambique 100 African cities with over 1 Angola Zambia million inhabitants in 2025 Comoros Zimbabwe Namibia Botswana Madagascar Swaziland Lesotho South Africa Massive infrastructure needs: ~$90 billion dollars/year until 4 2020 1: In purchasing power parity MOROCCO HOLDS A STRONG POSITION AS A HUB, THANKS TO ITS: STRATEGIC ADVANTAGES • Political stability • World class infrastructure • Air connectivity • Privileged geographical position STRONG PRESENCE IN AFRICA DISTINGUISHED ECONOMIC FUNDAMENTALS • Several Moroccan companies rooted • Macroeconomic stability in Africa • Investment grade • Strong financial sector • Free trade agreements giving • Multisectoral experience access to a market of more than one billion consumers 5 WHAT IS THE AIM OF CASABLANCA FINANCE CITY (CFC)? ... for 4 types of
    [Show full text]
  • Annual Report 2016
    Annual Report 2016 6 Jbel Moussa Sreet Agdal - Rabat Morocco Phone : +212(05)37 68 89 00 / Fax : +212 5 37 68 89 46 www.ammc.ma Printed on FSC certified recycled paper. HIS MAJESTY THE KING MOHAMMED VI MAY GOD ASSIST HIM Table of contents FOREWORD – THE TRANSITION FROM CDVM TO AMMC 14 1. A NEW GOVERNANCE PATTERN 17 1.1 The appointment of Chairperson 17 1.2 Establishing a new Board of Directors 17 1.3 Setting up the Enforcement committee 20 1.4 The Government Commissioner 21 2. ENHANCED INDEPENDENCE 22 3. EXTENDED PREROGATIVES 22 3.1 Market participants 22 3.2 Financial products 22 3.3 Activities 23 CHAPTER I - AMMC AND ITS ENVIRONMENT IN FIGURES 1. STOCK MARKET 25 1.1 Indices evolution 25 1.2 Market capitalization evolution 27 1.3 Transactions volume and liquidity evolution 28 1.4 Investors typology 29 2. SECURITIES LENDING 31 3. PUBLIC OFFERING 35 3.1 Capital securities transactions 35 3.2 Debt securities issues 35 3.3 Other financial transactions 36 4. COLLECTIVE INVESTMENT PRODUCTS 37 4.1 UCITS 37 4.2 Collective Investment Funds (CIFS) 43 4.3 Venture Capital Funds (VCF) 44 5. STAKEHOLDERS 45 5.1 Brokerage firms 45 5.2 Account holders 48 5.3 Central depositary 49 5.4 Management companies 51 CHAPTER II – THE AMMC AND CAPITAL MARKET SUPERVISION 1. LICENSING AND APPROVALS 57 1.1 Market participants licensing 57 1.2 Financial transactions approval 57 1.3 UCITS authorizations 63 8 Table of contents 2. FINANCIAL INFORMATION MONITORING 66 2.1 Periodic information 66 2.2 Important information 67 2.3 Threshold crossing declarations 68 2.4 Listed compnies buyback programs 68 2.5 Listed companies ethics 70 3.
    [Show full text]
  • Table 2. Morocco: Selected Macroeconomic Indicators, 2016-2022
    Document of The World Bank Group FOR OFFICIAL USE ONLY Public Disclosure Authorized Report No. 131039-MA INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT INTERNATIONAL FINANCE CORPORATION MULTILATERAL INVESTMENT GUARANTEE AGENCY Public Disclosure Authorized COUNTRY PARTNERSHIP FRAMEWORK FOR THE KINGDOM OF MOROCCO FOR THE PERIOD FY19–FY24 January 18, 2019 Public Disclosure Authorized Maghreb Country Management Unit Middle East and North Africa International Finance Corporation Multilateral Investment Guarantee Agency Public Disclosure Authorized This document has a restricted distribution and may be used by recipients only in the performance of their official duties. Its contents may not otherwise be disclosed without World Bank Group authorization. The date of the last Performance and Learning Review was May 24, 2017 (Report No. 105894 – MA) CURRENCY EQUIVALENTS (Exchange Rate Effective January 15, 2019) Currency Unit=Moroccan Dirham (MAD) MAD 1.00=US$ 0.11 Kingdom of Morocco GOVERNMENT FISCAL YEAR January 1 – December 31 ABBREVIATIONS AND ACRONYMS Comité Régional de l’Environnement des Agence Française de Développement AfD CREA Affaires (Regional Committee for (French Agency of Development) Business Environment) AfDB African Development Bank CSO Civil Society Organization ALMP Active Labor Market Policies CSP Concentrated Solar Plant Cash Transfer Program for Widows and AMC Asset Management Company DAAM Orphans Deep and Comprehensive Free Trade AMMC Morocco’s Capital Market Agency DCFTA Agreement ANAPEC National Employment Agency
    [Show full text]
  • Iconic Architecture in Morocco Two Pioneering Cities, Two Singular Towers
    Iconic Architecture in Morocco Two Pioneering Cities, Two Singular Towers Tlemçani Mekaoui Nezha1 1Research Scholar, Center for Doctoral Studies "Architecture and Associated Disciplines", National School of Architecture of Rabat, Morocco. Abstract In town planning as in architecture, space is a true transcription of civilizational trends, the expression par excellence of civilizations, continues to develop through the spaces they close, the buildings that it includes and that take shape over time. In this sense, Morocco, an emerging country, is beginning to build a modern image for itself, in the face of time by having recourse to its two pioneer cities, Casablanca and Rabat-Salé. In doing so, many spectacular constructions of iconic buildings have emerged there, the work of star architects using designs distinguished by their complex structures and using innovative materials. This article deals with the design of two buildings through the combination of two concepts grouped together in their designs, namely, the singularity of their architectures in relation to their urban environment and their sought-after technological prowess. The choice fell on the CFC tower (Casablanca Finance City) located in the new urban center "Casablanca finance City" and the Bank of Africa tower also called Tour Mohammed IV, located in Bouregreg, emblematic site of the Rabat-Salé conurbation. Key-words: Emblematic, Singular, Iconic Architecture, Architectural Icon, Urban Environment, Casablanca, CFC Tower, Rabat-Salé, Mohammed IV Tower. 1. Introduction In recent years, due to the rapid evolution of technology and the shift from a local to a globalized environment, cities are looking for new ways to promote themselves. They are “forced” to compete with each other to be an attractive tourist destination, a place of work, a rich cultural place and much more (Kotler, 2002).
    [Show full text]
  • Kingdom of Morocco Final Prospectus.Docx
    THE KINGDOM OF MOROCCO U.S.$1,000,000,000 4.25% Notes due 2022 Issue price: 99.228% U.S.$500,000,000 5.50% Notes due 2042 Issue price: 97.464% The U.S.$1,000,000,000 4.25% Notes due 2022 (the “2022 Notes”) and the U.S.$500,000,000 5.50% Notes due 2042 (the “2042 Notes” and, together with the 2022 Notes, the “Notes”) to be issued by the Kingdom of Morocco (the “Issuer”, the “Kingdom” or “Morocco”), will mature and be redeemed at their principal amount on 11 December 2022, in respect of the 2022 Notes, and 11 December 2042, in respect of the 2042 Notes, unless previously purchased and cancelled. See “Terms and Conditions of the Notes—5. Redemption, Purchase and Cancellation”. The 2022 Notes will bear interest from and including 11 December 2012 (the “Issue Date”) at a rate of 4.25% per annum and will be payable semi-annually in arrear on 11 June and 11 December in each year. The first payment of interest in respect of the 2022 Notes will be made on 11 June 2013. The 2042 Notes will bear interest from and including the Issue Date at a rate of 5.50% per annum and will be payable semi-annually in arrear on 11 June and 11 December in each year. The first payment of interest in respect of the 2042 Notes will be made on 11 June 2013. Payments on the Notes will be made in U.S. Dollars without deduction for or on account of any Moroccan withholding taxes unless the withholding is required by law, in which case the Issuer will pay additional amounts in respect of such taxes, subject to certain exceptions as set forth in “Terms and Conditions of the Notes—7.
    [Show full text]
  • Rabat and Casablanca
    URBAN GOVERNANCE Field study in Rabat and Casablanca MASTER GOVERNING THE LARGE METROPOLIS SCIENCES PO URBAN SCHOOL 2015 Photo (front cover) : Nicolas Hrycaj Photo (back cover) : Nicolas Hrycaj CONTENTS EDITORIAL NOTE 6 CHAPTER ONE: RABAT AND CASABLANCA IN CONTEXT 10 Understanding Institutions and Urban Governance in Morocco 11 Valentin Dubois, Roberto Lopez Rabat and Casablanca: Developing Together or Developing Apart? 14 Kwame Boye Frimpong, Marissa Potasiak, Naomi Fagla Médégan, Mikhail Ermac CHAPTER TWO: STRIVING FOR INTERNATIONAL OUTREACH 18 A maritime interface 19 Arthur Simon, Sofia Morgavi, Alex Aung Khant, Adélaïde de Couëssin On Casablanca and Rabat’s entrepreneurial urban governance: Mega-projects 22 for whom? Lorena Figuereido, JitkaMolnárová. Perrine Chauliac Political language: two tales of Morocco 25 Marie Pla, Clarissa Pelino The role of international organizations in local projects 31 Danlu Chen The role of French institutions in the Moroccan Economy 33 Laura Grelet, Alexandre Reznikow, Gaëtan Müller CHAPTER THREE: LAND-USE AT THE HEART OF POWER-RELATIONS 42 Land ownership and power relations: legal structure of use and abuse 43 Ivan Márquez, Alberto Garcia Picazo, Leire Irigoyen, Sofia Ramos Díaz The Bouregreg Valley and mega projects in the urbanisation of Moroccan cities 47 Josephine Hébert, Emeline Dutheil The collective lands threatened by the current politics of urbanization 51 Elise Roy, Suzanne Spooner CHAPTER FOUR: DEVELOPMENT CHOICES AND THE URBAN POOR 54 Governing the informal 55 Lou D’Angelo, Catalina Ramirez
    [Show full text]
  • Morocco's Request for Country of Operations Status
    Morocco’s Request for Country of Operations Status Technical Assessment* 10 November 2011 * This document is provided as background reference material exclusively for participants to the EBRD SEMED Partnership Assembly on 28 November 2011. It was produced by EBRD Management for discussion with the Bank's Board of Directors at an earlier date, and may contain information that is out of date. Index 1. Introduction and Overview ................................................................................ 4 2. Political Assessment............................................................................................. 6 2.1 Introduction ........................................................................................................... 6 2.2 History ................................................................................................................... 6 2.3 Recent political reforms ........................................................................................ 6 2.4 Status of political transition................................................................................... 8 2.5 Assessment .......................................................................................................... 10 3. Transition Assessment ...................................................................................... 12 3.1 From state-led development to gradual reforms, 1956-2010 .............................. 12 3.2 Impact of the global financial crisis and the Arab Spring..................................
    [Show full text]
  • Strategy for Morocco
    DOCUMENT OF THE EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT STRATEGY FOR MOROCCO As Approved by the Board of Directors at its meeting on 11 February 2015 TABLE OF CONTENTS EXECUTIVE SUMMARY ..................................................................................................... 2 1 OVERVIEW OF THE BANK’S ACTIVITIES TO DATE ......................................... 5 1.1 THE BANK’S CURRENT PORTFOLIO .................................................................................. 5 1.2 IMPLEMENTATION OF THE PREVIOUS STRATEGIC DIRECTIONS ......................................... 5 1.3 KEY LESSONS FROM THE FIRST PERIOD OF OPERATIONS .................................................. 6 2 OPERATIONAL ENVIRONMENT .............................................................................. 7 2.1 POLITICAL CONTEXT ....................................................................................................... 7 2.2 MACROECONOMIC CONTEXT ........................................................................................... 8 2.3 STRUCTURAL REFORM CONTEXT ..................................................................................... 9 2.4 ACCESS TO FINANCE ..................................................................................................... 11 2.5 BUSINESS ENVIRONMENT AND LEGAL CONTEXT ............................................................ 13 2.6 SOCIAL CONTEXT .......................................................................................................... 14 2.7 ENERGY EFFICIENCY
    [Show full text]
  • MOROCCO: King Mohammed VI Opens Doors to Africa
    Sponsored Report MOROCCO A ROLE MODEL FOR AFRICA MOROCCO Tanger Med port complex, the largest in Africa the major ports in Morocco, and taken part in the majority of key King Mohammed VI mega-projects in the Kingdom, from monuments and wind farms to tourist resorts. Joseph opens doors to Africa Roger Sahyoun, the company’s Chairman, credits the King with making the company’s ex- Moroccan players are now well placed to develop pansion possible, saying “His internationally, thanks to the unyielding commitment of His Majesty King Mohammed VI opened the doors to Africa for Majesty King Mohammed VI to the co-development of Africa us.” And in 2018, the King plans to further pick up the pace, with Since he came to the throne a member of the AU. Then, in his agenda for official visits to in 1999, Morocco’s King Mo- June 2017, Morocco applied to Africa even fuller than in 2017. hammed VI has made some 50 the Economic Community of In 2018, several major proj- visits to more than 25 African West African States (ECOW- King Mohammed VI of Morocco ects will see Moroccan invest- countries, signing around 1,000 AS) with positive reception; it ments in sub-Saharan Africa partnership agreements and had left the continental body bear fruit. However, the King- methodically establishing the in 1984. The Kingdom’s appli- was the leading African investor dom’s investments in this re- Kingdom of Morocco’s pres- cation to ECOWAS is a logical in terms of capital expenditure gion remain largely the preserve ence throughout Africa.
    [Show full text]
  • Published In
    Published in NOVEMBER - DECEMBER 2015 www.foreignaffairs.com/morocco2015 MOROCCO PIONEERING ECONOMIC GROWTH p.1 A Model for Growth and Development p.3 The World at Morocco’s Doorstep p.5 Infrastructure, Transport, and Logistics: Reaching out to the World p.6 Morocco’s New Industrial Ecosystems p.8 Phosphate: Morocco’s Earthly Riches p.9 Generating Wealth on Land and at Sea p.10 Energy and Environment: Renewables Lead the Way p.11 Paving the Way for a Digital Economy p.11 Banking and Finance: Empowering Development p.12 Vision 2020: Shaping Morocco’s Future in Tourism SPONSORED SECTION | MOROCCO - 1 www.foreignaffairs.com/morocco2015 A Model for Growth and Development The Kingdom of Morocco is undergoing a process of long-term change. Easily the most stable and dynamic economy in the region, Morocco is reshaping itself as a regional leader and gateway to Africa. Its industries are developing rapidly, driving growth and bringing the country closer to becoming a developed economy. King Mohammed VI of Morocco Pulling free from successive shocks of the global growth is gaining speed and is expected to rise to a financial crisis, the Arab Spring protests, and sluggish healthy 5 percent. This rate of growth looks sustainable growth in the Morocco’s main export markets in Europe, for the years ahead and could be higher still, if further Morocco today looks not only revived, but stronger and reform is implemented. Morocco’s trade deficit better positioned to exploit its strategic advantages in decreased in the first half of 2015 to $7.8 billion, from the global economy.
    [Show full text]